Espoo, Finland - Nokia announced on Monday that it will acquire Navteq, a provider of digital map information used in car, mobile and Internet-based applications, in a deal valued at $8.1 billion.

Founded in 1985, Chicago-based Navteq has 3,000 employees and generated 2006 revenues of $582 million.

"Location based services are one of the cornerstones of Nokia's Internet services strategy," said Nokia president and CEO Olli-Pekka Kallasvuo.

"By joining forces with Navteq, we will be able to bring context and geographical information to a number of our Internet services with accelerated time to market."

Related Links:
http://www.nokia.com/A4136001?newsid=1157198

http://www.navteq.com